Orchard Economics

Worksheet Description

This is a worksheet that places students in the context of a farmer’s market where they sell apples and oranges to understand supply and demand concepts. The worksheet presents a series of scenarios that occurred throughout a week, starting with selling out of apples quickly on the first day, to receiving an increased supply of oranges, and observing market changes due to a neighboring stall’s new product and a special promotion. Students are tasked with determining how these scenarios affect supply or demand and predicting potential outcomes for prices and sales volume.

This worksheet is intended to teach students the basic principles of supply and demand through the lens of a farmer’s market, a tangible and relatable context. It guides them to analyze how different actions, like increasing supply or changing a product offering, can impact the market. By reflecting on these scenarios, students learn to reason through the causes of shifts in supply and demand and how these shifts can affect product prices. The exercise also helps them understand the strategic decisions businesses must make to manage supply and demand effectively.